Giuliani Officially Not Running for President

After months of contemplating candidacy, a source close to Rudy Giuliani Tuesday said the former New York City Mayor will not run for president in 2012.

Giuliani attended a luncheon at the Long Island Association and broke the news to the crowd.

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In the past, when asked about a possible 2012 bid, Giuliani had said he was considering running, and that a factor in his decision would be if he believed any of the other GOP candidates could beat President Obama.